The figure above shows the demand for and supply of labor of students in Smallville. If the minimum wage is set at $4 per hour, how many hours of students' labor are unemployed?

Which of the following is a tool that is used by the Fed to control the quantity of money?

A) open market operations B) excess reserves C) government expenditure multiplier D) real interest rate

If a corporate bond with face value of $1,000 has an interest rate of seven percent paid once a year for a term of 10 years, what is the size of the coupon payment?

A) $1,000 B) $700 C) $70 D) $7